Vindicia Partners with Softrax to Make Revenue Recognition Easier
Vindicia announced a partnership with Softrax, a leading provider of enterprise revenue management and billing software solutions. The partnership will make revenue recognition easier for businesses with subscription products and will help organizations gain unprecedented visibility into subscription and recurring revenue business performance.
- (1888PressRelease) February 23, 2016 - Vindicia, the leader in enterprise-class subscription billing, announced a partnership with Softrax, a leading provider of enterprise revenue management and billing software solutions that fundamentally change the way companies manage, analyze, report, and forecast their revenue. The partnership will help organizations reduce operating expenses, comply with revenue recognition regulations, and gain unprecedented visibility into subscription and recurring revenue business performance.
"There is increasing complexity in both billing and enterprise revenue management. No single ERP solution can keep up with the requirements," said Tom Zauli, Softrax's VP of sales and marketing. "Our partnership with Vindicia provides an option to automate complex financial arrangements without requiring a disruptive rip-and-replace of core systems. It delivers significant savings that go straight to the bottom line. Our customers benefit from enhanced growth, scalability and pace of innovation."
For many different industries, renewable and recurring revenue streams are increasingly vital sources of company growth. In fact, many organizations get a majority of their revenue from recurring sources. However, subscription and recurring billing models create complex accounting issues. Especially where multivariable arrangements are involved, companies are responsible for keeping up with any changes in regulation or business processes.
"The combination of Vindicia's subscription billing expertise and Softrax's revenue recognition experience gives clients a tremendous range of options," said Bryta Schulz, Vindicia's SVP of marketing. "Together, we can offer the solutions that help companies, like online services and software as a service companies, support the flexible subscription and recurring billing business models needed to grow and evolve their companies."
For more information, please visit www.vindicia.com or www.softrax.com.
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